Reinhart Says U.S. May Not Exit Stimulus Quickly Enough: Video

Jan. 11 (Bloomberg) -- Carmen Reinhart, an economics professor at the University of Maryland, talks with Bloomberg's Pimm Fox about the US economy and her book "This Time is Different: Eight Centuries of Financial Folly" which she co-wrote with Kenneth Rogoff, an economics professor at Harvard University. She also discusses government debt and the outlook for emerging markets. (Source: Bloomberg)
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Econofeuds just got real. Carmen Reinhart and Kenneth Rogoff — the two economists whose paper on the negative effects of high debt loads was exposed as flawed by a grad student — have written a long letter to Paul Krugman, blasting him for being uncivil and unprofessional in how he treats them in his writing.

By David Warsh: The list of genuine heroes of the financial crisis of 2007-08 is a short one, as opposed to the roll of pretenders, which is as long as my arm. High on the former are Carmen Reinhart, of Harvard's Kennedy School of Government, and Kenneth Rogoff, of the university's economics department. The recent controversy about an error in their arithmetic has kicked up a cloud of dust, but, when that dust has settled, will have done little to damage their standing.

Kenneth Rogoff has long warned of a potential financial crisis in China.
Rogoff, a professor of economics at Harvard University, accurately predicted the eurozone debt crisis and for years has been telling anyone who would listen that China posed the next big threat to the global economy. He is starting to look right, again.

Yves here. I don’t know whether to be relieved or annoyed to see Carmen Reinhart and Ken Rogoff retreat from their pro-austerity stance and endorse debt restructuring, since their prior view (that budget-cutting was necessary and productive) served to justify considerable and unnecessary pain being inflicted on periphery Eurozone countries to preserve the illusion of health of French and German banks.